Spunkygamer

Spunkygamer Updated 

It has been observed that Gold may give a breakout above Rs. 48000/10G (a monthly chart). Keep your Goldbees on the radar.

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Piramal Ent is developing cup pattern and further, a trendline also showing some resistance. With the world market on bulls side, it is possible that we may see new ATH in this stock.

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Divis Lab looks good and consolidating and trying to breakout with increasing volume. Once passed the ATH, we may see new levels.

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Currently, Nifty is making HH & HL. Accordingly, Nifty should not break 17220-200. If the same is broken, then Nifty may start to make LH & LL and this would weaken the Indexes for short term till 15800 levels are not broken. Further, on daily chart of Nifty, we can see formation of dark cloud cover and evening star (approx.). Hence, we can see some correction in...

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Dolat Investments: Target - Rs. 104-112-124 SL - Rs. 87 Reasons: May breaking trend line; No major sale volume; and About to kiss its support! Disclaimer: -View expressed are of personal in nature. consult your financial advisor before taking any decision of investment -We are not SEBI registered

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An uptrend, which is a series of higher swing highs and higher lows, reverses into a downtrend by changing to a series of lower highs and lower lows. A downtrend, which is a series of lower highs and lower lows, reverses into an uptrend by changing to a series of higher highs and higher lows. In the current case, the Nifty is making LH LL and hence, it is...

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Ascending Triangle: An ascending triangle is a breakout pattern that forms when the price breaches the upper horizontal trendline with rising volume. It is a bullish formation. The upper trendline must be horizontal, indicating nearly identical highs, which form a resistance level. The lower trendline is rising diagonally, indicating higher lows as buyers...

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As chart shown above, Nifty has made the following technical patterns: 1. Double top; 2. CUP pattern; and 3. At its resistance at 17233. Let understand the meaning of the aforementioned technical patterns: 1. Double Top - A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a...

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Apex Frozen is just Rs. 13/- away from its important resistance i.e., Rs. 290/-. Once it is crossed, it going to give a sharp rise upto T1 340-350/-, T2 390-400/- with SL 230/-. Some of the major positives/ negatives from Fundamentally stand points are : 1. OM are getting better like pre-covid levels; 2. Sales are improving; 3. Borrowings are almost doubled in...

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Prediction: Since there is Jackson Hole Event, chances are that market wont leave their position open. Hence, there are high chance that we see Nifty down tomorrow. Further, 16715 is important resistance followed by 16680 and 16650 and market is unlikely to cross 16715 because of the said event. Hence, on every resistance it is best to short nifty. with the SL of 16715.

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Prediction: Since there is Jackson Hole Event, chances are that market wont leave their position open. Hence, there are high chance that we see Bank Nifty down tomorrow. Further, 35600 is important support. Next support will be 35350-00. Below 35300 don't forget to short with SL 35375. Pattern: An ascending triangle is a chart pattern used in technical analysis....

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Nifty at its curial support of 16630, any fall would take the index to 16580-550. Also, Nifty has made double top and accordingly, likely to test 16380-50 levels soon so that double top pattern can be completed!! Further, if cues are negative from Jackson Hole Event i.e., liquidity cut, we may see a good correction all over the world market. However, as the COVID...

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When looking at a Pennant continuation pattern, you will see the following: A flagpole: A Pennant pattern always begins with a flagpole, which differentiates it from other types of patterns (such as the symmetrical triangle). The flagpole is the initial strong move preceding the symmetrical triangle. Breakout levels: There will be two breakouts, one at the end of...